ECONOMICS (CBSE/UGC NET)

ECONOMICS

CONSUMERS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
People that use or buy goods and services are called?
A
Consumers
B
Dogs
C
Workers
D
Producers
Explanation: 

Detailed explanation-1: -Consumers are defined as individuals or businesses that consume or use goods and services. Customers are the purchasers within the economy that buy goods and services, and they can exist as consumers or alone as customers.

Detailed explanation-2: -A consumer is a person who purchases and uses goods and services by paying or agreeing to pay a price for them. A consumer is one who is the decision maker whether or not to buy an item at the store, or someone who is influenced by advertisement and marketing.

Detailed explanation-3: -A consumer is the one who purchases the product for his/her own need and uses or consumes it. A consumer cannot resell the good, product or service but can consume it to earn his/her livelihood and self-employment. Definition of consumer. The consumer is the one who is the end-user of any goods or services.

Detailed explanation-4: -A consumer is a person or organization that purchases and uses economic services or commodities.

There is 1 question to complete.